Dedicated locality research platform
Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
Real estate firm Ivanhoé Cambridge and property management company Mapletree have formed a strategic partnership to develop, own and operate technology-focused workplaces in India. The joint investment platform has a capacity of over CAD 2.5bn ($1.97bn) and the partners have already identified properties and projects to meet this target. The investment strategy will focus on development of Grade A office assets in key economic hubs benefiting from the exponential growth in technology-led innovation activities anchored by global capability centres, as well as large domestic and international technology services corporations. The new partnership will enable both companies to expand their presence in India’s knowledge, technology and innovation workplace sector, which is supported by long-term fundamentals and a high-quality talent pool.
Mapletree will lead all real estate development, project management, leasing, and operations, drawing on its global track record in developing and managing high-quality Grade A assets. Ivanhoe Cambridge, as an institutional investor in sectors and assets that are shaping the urban fabric in a sustainable manner in the most dynamic cities globally, will bring in its expertise and experience. The investment portfolio of the platform will align with both companies’ commitments to achieve net-zero operational carbon by 2040 and 2050, respectively.
Ivanhoe Cambridge’s Co-Head Asia-Pacific, George Agethen, expressed delight in the partnership with Mapletree for India, citing alignment on their values, ESG ambitions and Mapletree’s 15-year experience in India. He added that the partnership continued their growth plans for the Asia-Pacific region, bringing diversification to their portfolio and resilience to their returns. Quek Kwang Meng, Regional Chief Executive Officer, India, Mapletree, expressed optimism that the strategic partnership would allow them to strengthen their presence in India and expand their portfolio in the commercial sector efficiently, which they believe has good growth potential in the coming years.
With an ongoing policy overhaul, rising investor confidence, enhanced transparency, and sustained growth in demand for Grade A commercial office space, the investment momentum in the Indian real estate sector is expected to continue rising. Ivanhoe Cambridge and Mapletree’s partnership for investments indicates the continued appetite for Indian real estate assets among global institutional investors, including Blackstone Group, Brookfield Asset Management, GIC, Xander, Ascendas, CPPIB, Warburg Pincus and Goldman Sachs, who are expanding their investments in the sector.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
